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February hogs closed down $3.70 at $86.82.

February hogs closed sharply lower on Tuesday ending a four-day rally. The low-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. Stochastics and the RSI are turning neutral to bearish wit today's decline signaling that sideways to lower prices are possible near-term. If February renews the decline off November's high, the 62% retracement level of the October rally crossing at $82.29 is the next downside target. If February extends the rally off Wednesday's low, September's high crossing at $92.58 is the next upside target. First resistance is Monday's high crossing at $91.90 Second resistance is September's high crossing at $92.58. First support is the 50% retracement level of the October rally crossing at $84.12. Second support is the 62% retracement level of the October rally crossing at $82.29.

February cattle closed down $2.33 at $153.50.

February cattle closed sharply lower on Tuesday and closed below the 50-day moving average crossing at $154.00 confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends today's decline, November's low crossing at $152.28 is the next downside target. Closes above Monday's high crossing at $156.38 would signal that a short-term low has been posted. First resistance is Monday's high crossing at $156.38. Second resistance is November's high crossing at $156.95. First support is November's low crossing at $152.28. Second support is the October 14th low crossing at $146.72.

January Feeder cattle closed down $2.28 at $181.50.

January Feeder cattle closed lower on Tuesday and the mid-range close sets the stage for a steady to lower opening when Wednesday's session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If January extends the rally last-week's low, the 62% retracement level of the August-October decline crossing at $184.60 is the next upside target. Closes below the 50-day moving average crossing at $178.99 would signal that a short-term top has been posted. First resistance is Monday's high crossing at $184.20. Second resistance is the 62% retracement level of the August-October decline crossing at $184.56. First support is the November 15th low crossing at $176.33. Second support is October's low crossing at $172.10.

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